Advantage of Bitcoin as a business man or woman

[CamilaStar]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

[cryptomaniac_xxx]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

But you have to understand that it's not instant as well, and there are fees that you need to pay and it's not constant as it depends on the network congestion. Not sure if you have been here last year when the fees are very high because of the ordinals and the constant and deliberate attack on the network. So just imagine if you are business that accepts Bitcoin that time, you might have to turn it off because no customers are willing to shoulder that huge fees. And probably this is the major reason why there are only few businesses that readily wanted to accept Bitcoin as a payment scheme. Another thing is that it's volatile and unpredictable. Not saying that it's bad for Bitcoin, but as a business owner you really need to understand how Bitcoin works.

[X-ray]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

If only many merchants out there know the advantage of bitcoin.

Just see other payment processing services that are centralized, they all charge 2.9% fee and more meanwhile with bitcoin you just need to pay tx fee and I'd argue that scanning qr code for getting the address and then sending the btc is much more convenient than typing credit card numbers .

[Rashlyowl]

Are you living in a pre-modern era bros @CamilaStar?

Before the ease of access to online payments, what you described was a key advantage of BTC. I remember the days when I always had to go to ATM just to make a transaction. With BTC, that problem was finally solved. However, in today's era, there are many better payment methods than BTC, refers to cost & speed. So what you're saying is no longer relevant.

I can give you 2 key advantages of using BTC that are more suitable for today's era as someone who owns a business.

(1) Enter New Market

Number of BTC owners currently stands at around 106,000,000 people. If you as a business owner make BTC one of your payment methods, it means you are opening up the potential for those 106,000,000 people to buy or use your services.

(2) Hedge Against Inflation

I don't think I need to elaborate on this one, as it's common knowledge that BTC is a good safe haven alongside gold.

But you have to understand that it's not instant as well, and there are fees that you need to pay and it's not constant as it depends on the network congestion.

We have LN, it is suitable for small - medium scale businesses & the finality is almost instant, so it is not a problem.

[abaeze]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

If the network is busy during ordinals, mempool floods, etc-the fees are very high, so it can sometimes take 10 minutes to 1 hour to get confirmations. Since the price of Bitcoin changes hourly. As a result, if the price drops by 5-10% a few hours after the customer makes the payment, the business may suffer. Again, customer service organizations such as: food shop bills, grocery bills, online subscriptions, i.e. there is a problem in providing instant service. However, it can be used to get monthly fees of schools, colleges and universities, bus, launch or advance tickets for airplanes. There will be both advantages and disadvantages. We want Bitcoin to spread, but if the disadvantages are more than the advantages, then it will take a long time to be effective. However, it is possible to implement it by changing some traditional rules or structures with the united efforts of the government and the people.

[Plaguedeath]

I can send fiat using mobile banking in Sunday midnight without delay and it doesn't cost any cent which mean banks is better than Bitcoin?

The only Bitcoin won is cross border payment, but most business are only for local citizen because their traffic aren't big and not yet able to serve for international clients.

Even El Salvador accept Bitcoin as legal tender and Bitcoin price keep increasing, the trend of Bitcoin usage in El Salvador keep declining from year to year.

Based on the available data from the Instituto Universitario de Opinión Pública (Iudop) of the Universidad Centroamericana José Simeón Cañas (UCA), here is the percentage of Salvadorans who reported using Bitcoin for transactions from 2021 to 2024: 2021: 25.7%, 2022: 21%, 2023: 12%, 2024: 8.1%.

[SilverCryptoBullet]

I can send fiat using mobile banking in Sunday midnight without delay and it doesn't cost any cent which mean banks is better than Bitcoin?

It is not enough to say banks or mobile e-banking services are better than Bitcoin. There are many other things to consider for any comparison, not only one factor like whether it requires fee or free to use.

The only Bitcoin won is cross border payment, but most business are only for local citizen because their traffic aren't big and not yet able to serve for international clients.

Not only this as Bitcoin is better than banks by many following reasons: with bitcoin and good Bitcoin wallets (open source and non custodial) people will have their own banks and have zero risk of fund seizure by governments like with banks and money in bank accounts. If you don't commit crimes and governments don't arrest you, they can not seize your bitcoin. Additionally, Bitcoin transactions are non censorship and irreversible, not like bank transfers.

Even El Salvador accept Bitcoin as legal tender and Bitcoin price keep increasing, the trend of Bitcoin usage in El Salvador keep declining from year to year.

Based on the available data from the Instituto Universitario de Opinión Pública (Iudop) of the Universidad Centroamericana José Simeón Cañas (UCA), here is the percentage of Salvadorans who reported using Bitcoin for transactions from 2021 to 2024: 2021: 25.7%, 2022: 21%, 2023: 12%, 2024: 8.1%.

It is a declining trend that proves a basic fact that inorganic enforcements of anything won't be able to maintain its widespread, usage coverage and existence in long term.

[Oshio-man]

If bitcoin is legal tender in your country, is one of the advantage business men and women will like to introduce bitcoin to their businesses to accept bitcoin as payment. Bitcoin transaction is faster and reliable, which is another advantage business men and women will deploy into their businesses to experience global growth that will affect their businesses positively, storing funds on bitcoin and hold for long term, is another advantage that will affect business men and women positively in the future because bitcoin always hit all time-high in the bullish season, to make investors to earn a good income that will motivate them to increase their capital to earn more income in the future.

[joniboini]

We have LN, it is suitable for small - medium scale businesses & the finality is almost instant, so it is not a problem.

If it's as easy as that, I'd expect merchants to adopt them everywhere. That being said, I do know that the rate of adoption is increasing, so that's good news, but there are challenges to set up and get accustomed to that. Even running their own payment gateway or opening an LN channel can be a problem for new users. I think it's not a bad idea to make them even easier to get into, as long as it doesn't sacrifice important aspects like security, privacy, etc.

[moneystery]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

that's easier said than done, because when you accept bitcoin in your business, there will be regulations that limit your ability to do so. for example, regulations in my country only allow people to treat bitcoin as an investment/trading instrument. if someone accepts bitcoin as a payment, they risk criminal charges for violating the law.

also, i think that these days, most people prefer to transact using their bank/fiat accounts, because it's 24/7, there are no fees (at some banks), and there's no waiting time. so, i think bitcoin is suitable for cross-border payments, while for local transactions, most people still consider using banks/fiat accounts.

[Agbamoni]

Bank still operates on holiday, they have their mobile apps functioning and ATM cards which can be operated in any POS. Aside from 24/7here are more better reasons why a business man or woman should use Bitcoin for day to day payment. One good reason is low transition fees which is not limited to local or international transactions, easily accessibility from anywhere with any device, full control of our money and lastly it is a good way to store wealth. The traditionally banks still performs its function but Bitcoin makes the financial system even better.

[Rashlyowl]

If it's as easy as that, I'd expect merchants to adopt them everywhere. That being said, I do know that the rate of adoption is increasing, so that's good news, but there are challenges to set up and get accustomed to that.

It's that easy bros, the reason this method is not used by mainstream merchants is because they don't know about it, talking about LN is too far, I don't think those merchants know what BTC actually is, still thinking the same thing as stocks.

Even running their own payment gateway or opening an LN channel can be a problem for new users. I think it's not a bad idea to make them even easier to get into, as long as it doesn't sacrifice important aspects like security, privacy, etc.

To make BTC transactions, we can now do it without Bitcoin Core & all its synchronization stuff. Also applies to LN transactions, to send & receive, we also don't need to open our own LN channel. Don't waste what developers have built on platforms like: BlueWallet, Muun Wallet & Coinos.

[Patikno]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Unfortunately, I can't yet effectively use Bitcoin in my business, because it is not yet possible to conduct transactions using Bitcoin (as a medium of exchange) in my country, and I think this is a challenge faced by some people in my country as well. However, if Bitcoin becomes a viable transaction tool in my country someday, I will definitely take advantage of it, and I might even be the first in my area to use or incorporate Bitcoin into my business. So, I think there are still challenges to this, and this relates to regulations in each country, and I hope that will be realized in my country.

[happybitcoinph]

Bitcoin is a good way of promoting your business.

Your business is a good way of promoting Bitcoin.

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

In what Country do you live? Bitcoin is almost functioning there as legal tender currency and is primarily being used everywhere.

[terrific]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

The only delay that people complain about is the confirmation time.
It usually takes 10 minutes for a transaction to get confirmed but it's not that a lot to wait for to be honest.
But the main point is what you've said, with 1 satoshi per vB that waiting time isn't that much compared to the fee and availability and accessibility that it has got.
And if you have a business, you just post that "Bitcoin accepted here" with that QR code, and other Bitcoiners would happy to support your business by just simply having that.

[348Judah]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

The acceptance of bitcoin as a medium of payment for a business allows the people in use of bitcoin to make patronage for such services, thereby announcing them to the world because of this unique acceptance of bitcoin payment, it also makes thing more comfortable and adaptable for both the business owners and the customer in making payments under a decentralized currency without having barrier or limit to the transaction terms and conditions fiat currency may place over our monetary account.

[BitGoba]

But you have to understand that it's not instant as well, and there are fees that you need to pay and it's not constant as it depends on the network congestion. Not sure i

All payment transactions in markets, kiosks, and elsewhere are conducted via Bitcoin Lightning, where transactions are instant and come with minimal fees. I'll share a few YouTube videos showing how Bitcoin Lightning transactions work in real life

Video of paying for a hamburger at McDonald's in San Salvador where Bitcoin is legal tender

https://www.youtube.com/shorts/25_VkeiT4R0

Paying with Bitcoin at a local kiosk in San Salvador.

https://www.youtube.com/watch?v=GRb2PFn3HJo

Payment at the American fast food chain Steak 'n Shake, which has enabled Bitcoin payments in all of its locations in the US and Europe. Here we see a payment made using a personal Lightning and Bitcoin full node, accessed through the Zeus wallet.

https://www.youtube.com/watch?v=P_5ve6rz61g

Payment at McDonald's in the Swiss city of Lugano. Lugano is known as a city where it's possible to pay with Bitcoin almost everywhere, as over 400 restaurants, hotels, kiosks, shops, and various other businesses accept Bitcoin

https://www.youtube.com/watch?v=QkzyZkoA0yA

Payment in Switzerland at the SPAR supermarket chain, which recently introduced Bitcoin as a payment option.

https://www.youtube.com/watch?v=WsoJJ3SF1fM

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

You are absolutely right. CEO of Steak 'n Shake, the American fast food chain that introduced Bitcoin payments a few months ago, spoke at the Bitcoin conference in Las Vegas about how their sales have increased since implementing Bitcoin. They experienced a huge volume of transactions paid with Bitcoin, and paying with Bitcoin saves them 50% in processing fees compared to credit cards

This is a video of his speech.
https://www.youtube.com/watch?v=lesvQb9MyU4

[coaltin]

Bitcoin business is the toughest business on the planet. Trading coins all day long in a vivid environment where the world competes makes it one of the most lucrative business. Any gender bias is not made for bitcoin. Businesses are booming in the crypto stratosphere. Hedge fund trading is one of them.

[₿itcoin]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

But you have to understand that it's not instant as well, and there are fees that you need to pay and it's not constant as it depends on the network congestion. Not sure if you have been here last year when the fees are very high because of the ordinals and the constant and deliberate attack on the network. So just imagine if you are business that accepts Bitcoin that time, you might have to turn it off because no customers are willing to shoulder that huge fees. And probably this is the major reason why there are only few businesses that readily wanted to accept Bitcoin as a payment scheme. Another thing is that it's volatile and unpredictable. Not saying that it's bad for Bitcoin, but as a business owner you really need to understand how Bitcoin works.

CamilaStar is right, Bitcoin is really a revolution for international payments; it is something brouhaha our old banks can only dream of, no holiday breaks or something like that. You can send kitty worldwide, without the habitual middleman fees that eat into your profits, which is a sweet deal when tryin to move large sums worldwide or get payments faster than a snail's pace.

But cryptomaniac_xxx is not wrong about these fees. I could recall last year, when the entire ordinals craze slapped, right? it seems, the network was stalling like a bad hand, and the fees were skyrocketing, making small tx suffer like you were gambling the house. Yes, it is true businesses gotta be smart, understandin that while it is usually brisk (much faster than a bank wire atleast), it is not each time speedy, and tx costs are not a fixed bet, they could spring back around with network traffic. So when there is a chance of a royal flush for bitcoin dealings you have to play really smart, know when the fees are low, or you could use something like LN for them to play fast, cheap.

[Zlantann]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Online bank services are available 24/7. Holidays affect only physical banking services. Another annoying thing about banks is network problems, which can be very frustrating. However, Bitcoin is a good alternative that can be used without restrictions. Banks are centrally controlled by the government, which could place some level of restrictions on how you want to use your funds. But with Bitcoin,  you have full control of your funds and can send and receive any amount at any time with fewer charges. With Bitcoin, International trade payments are better since it is decentralized. Traders don't need to convert funds to dollars or local currency to make payments. And the hurdles and protocols caused by the middleman are bypassed with Bitcoin.